Biodegradable Plastic Market Size, Industry Analysis By Type (PLA, Starch Blends, PHA, Biodegradable Polyesters, And Others), By Application (Packaging, Agriculture, Textile, Consumer Goods, And Others) & Region - Forecast
- PUBLISHED ON
- 2024-02-08
- NO OF PAGES
- 291
- CATEGORY
- Chemicals & Materials
Global Biodegradable Plastic Market Analysis by Type, Application, Region and segments forecast till 2033
Market Overview
The global biodegradable plastic market is presently valued at USD 4,600 million and is poised to amplify at a CAGR of 9.7% over 2023-2033, thereby accumulating USD 10,000 million by end of the assessment timeframe.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 4,600 Million |
Market Forecast in 2033 | USD 10,000 Million |
CAGR % 2023-2033 | 9.7% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Type, Application |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | Cargill Incorporated, PTT MCC Biochem Co., Ltd., Biome Technologies plc, Plantic Technologies Limited, BASF SE, Total Corbion PLA, Synbra Technology BV, Futerro, Novamont SpA, NatureWorks LLC, Eastman Chemical Company, Trineso, Danimer Scientific, and FKuR Kunststoff GmbH. |
Biodegradable plastics are referred to as the type of plastics that can be degraded into biomass, water, and carbon dioxide by the action of microorganisms. They are predominantly produced using petrochemicals, microbes, and renewable raw materials, or sometimes by combining them all. These plastics are sustainable in nature since they emit lesser amount of greenhouse gases as compared to tradition plastic forms. The rising instances of environmental pollution, stringent government regulations to decrease the utilization of single-use plastics, and growing R&D activities in the field are primarily augmenting the outlook of this industry vertical.
Furthermore, increasing environmental consciousness of the masses, widespread industrialization, and willingness of consumers to pay for biodegradable products are creating lucrative opportunities for the marketplace to prosper. Also, rising adoption of sustainable plastics in the e-commerce sector is positively swaying the dynamics of this industry vertical. On the contrary, high costs pertaining to these plastics is hindering the remuneration scope of this market sphere.
With rising instances of ecological exploitation resulting in climatic change and other issues, the masses have become consciousness regarding the ill impact of single use plastics. This in turn in increased the adoption of biodegradable plastics in the end use sectors since they are eco-friendly and sustainable in nature.
There has been a rapid emergence of advanced applications aimed at the production of biodegradable plastic. Manufacturers across the globe are also engaging in R&D activities to promote the use of eco-friendly packaging materials in industries such as e-commerce, automotive, healthcare, and consumer electronics, among others. These factors are fueling the progression of the overall industry.
Type Insights
The PLA segment is poised to amass notable gains over the stipulated timeline owing to the affordability of these products. The PLA (polylactic acid) segment is one of the fastest-growing segments in the biodegradable plastics market. PLA is a bio-based plastic made from renewable resources such as corn starch, tapioca roots, or sugarcane. It has gained popularity in recent years due to its biodegradability, compostability, and non-toxic nature.
Application Insights
The Packaging segment is expected to generate significant market share of more than 20% over the estimated duration ascribing to the rising use of biodegradable plastics for packaging purposes across industries such as food & beverage, crockery, and pharmaceuticals, among others.
Regional Insights
North America, Middle East & Africa, Europe, Asia Pacific, and Latin America are the primary regions constituting the geographical ambit of this business sphere. Among these, Asia Pacific is slated to capture a substantial market share owing to widespread urbanization, rising environmental cognizance, and abundance of raw materials required for the production of biodegradable plastics.
Competitive Analysis
The prominent players characterizing the competitive terrain are Cargill Incorporated, PTT MCC Biochem Co., Ltd., Biome Technologies plc, Plantic Technologies Limited, BASF SE, Total Corbion PLA, Synbra Technology BV, Futerro, Novamont SpA, NatureWorks LLC, Eastman Chemical Company, Trineso, Danimer Scientific, and FKuR Kunststoff GmbH.
· Notably, in April 2021, NatureWorks LLC inked a partnership deal with IMA Coffee to enhance the reach for compostable k-cup in North America.
· In July 2021, BASF announced that it had launched a new line of biodegradable plastic products under the brand name ecovio. The products are made from renewable raw materials and are designed to help reduce the environmental impact of plastic waste.
· In March 2021, Danimer Scientific, a US-based manufacturer of biodegradable plastics, announced that it had entered into a merger agreement with a special purpose acquisition company (SPAC) called Live Oak Acquisition Corp. The merger was expected to provide Danimer Scientific with additional capital to expand its production capacity and commercialize its products.
Global Biodegradable Plastic Market- Segmental Analysis
By Type:
• PLA
• Starch Blends
• PHA
• Biodegradable Polyesters
• Others
By Application:
• Packaging
• Agriculture
• Textile
• Consumer Goods
• Others
Why to buy this Report?
The report provides quantitative and qualitative aspect for Global Biodegradable Plastic Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Global Biodegradable Plastic Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
• Business Model
• Production Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the Card Type in taking a key decision within the business:
• Company Share Analysis from 2020-2022
• Company Analysis by Revenue and Sales
• Company Production Capacity, Gross Margin
• Company Share Analysis by Card Type/Card Type
• Company Share Analysis by Product/Specification
1.
Global Biodegradable Plastic Market
Introduction and Market Overview
1.1. Objectives
of the Study
1.2. Biodegradable Plastic Market Definition & Description
1.3. Global
Biodegradable Plastic Market Scope and Market Estimation
1.3.1. Global
Biodegradable Plastic Market Size, Revenue (US$ Mn), Market CAGR (%), Market
forecast (2023-2033)
1.3.2. Global
Biodegradable Plastic Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019-2033
1.4. Market
Segmentation
1.4.1. Type
of Global Biodegradable Plastic Market
1.4.2. Application
of Global Biodegradable Plastic Market
1.4.3. Region of Global Biodegradable Plastic Market
2.
Executive
Summary
2.1. Global
Biodegradable Plastic Market
Industry Trends under COVID-19 Outbreak
2.1.1. Global
COVID-19 Status Overview
2.1.2. Influence
of COVID-19 Outbreak on Global Biodegradable
Plastic Market Industry Development
2.2. Market
Dynamics
2.2.1. Drivers
2.2.2. Limitations
2.2.3. Opportunities
2.2.4. Impact
Analysis of Drivers and Restraints
2.3. Pricing
Trends Analysis & Average Selling Prices (ASPs)
2.4. Key
Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.
2.5. Porter’s
Five Forces Analysis
2.5.1. Bargaining
Power of Suppliers
2.5.2. Bargaining
Power of Buyers
2.5.3. Threat
of Substitutes
2.5.4. Threat
of New Entrants
2.5.5. Competitive
Rivalry
2.6. Value
Chain / Ecosystem Analysis
2.7. PEST
Analysis
2.8. Russia-Ukraine
War Impacts Analysis
2.9. Economic
Downturn Analysis
2.10. Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Region
3. Global Biodegradable Plastic Market Estimates & Historical Trend Analysis (2020 - 2022)
4.
Global
Biodegradable Plastic Market Estimates
& Forecast Trend Analysis, By Type
4.1. Global
Biodegradable Plastic Market Revenue (US$ Mn) Estimates and Forecasts, By Type,
2023 to 2033
4.1.1. PLA
4.1.2. Starch
Blends
4.1.3. PHA
4.1.4. Biodegradable
Polyesters
4.1.5. Others
5.
Global
Biodegradable Plastic Market Estimates
& Forecast Trend Analysis, By Application
5.1. Global
Biodegradable Plastic Market Revenue (US$ Mn) Estimates and Forecasts, By Application,
2023 to 2033
5.1.1. Packaging
5.1.2. Agriculture
5.1.3. Textile
5.1.4. Consumer
Goods
5.1.5. Others
6.
Global
Biodegradable Plastic Market Estimates
& Forecast Trend Analysis, By Region
6.1. Global
Biodegradable Plastic Market Revenue (US$ Mn) Estimates and Forecasts, By Region,
2023 to 2033
6.1.1. North
America
6.1.2. Europe
6.1.3. Asia
Pacific
6.1.4. Middle
East & Africa
6.1.5. South America
7.
North
America Biodegradable Plastic Market:
Estimates & Forecast Trend Analysis
7.1. North
America Biodegradable Plastic Market Assessments & Key Findings
7.1.1. North
America Biodegradable Plastic Market Introduction
7.1.2. North America
Biodegradable Plastic Market Size Estimates and Forecast (US$ Million) (2023 to
2033)
7.1.2.1. By Type
7.1.2.2. By Application
7.1.2.3. By
Country
7.1.2.3.1. The
U.S.
7.1.2.3.2. Canada
7.1.2.3.3. Mexico
8.
Europe
Biodegradable Plastic Market: Estimates
& Forecast Trend Analysis
8.1. Europe
Biodegradable Plastic Market Assessments & Key Findings
8.1.1. Europe
Biodegradable Plastic Market Introduction
8.1.2. Europe
Biodegradable Plastic Market Size Estimates and Forecast (US$ Million) (2023 to
2033)
8.1.2.1. By Type
8.1.2.2. By Application
8.1.2.3. By
Country
8.1.2.3.1. Germany
8.1.2.3.2. U.K.
8.1.2.3.3. France
8.1.2.3.4. Italy
8.1.2.3.5. Spain
8.1.2.3.6. Russia
8.1.2.3.7. Rest of Europe
9.
Asia
Pacific Biodegradable Plastic Market:
Estimates & Forecast Trend Analysis
9.1. Asia
Pacific Market Assessments & Key Findings
9.1.1. Asia
Pacific Biodegradable Plastic Market Introduction
9.1.2. Asia
Pacific Biodegradable Plastic Market Size Estimates and Forecast (US$ Million)
(2023 to 2033)
9.1.2.1.
By Type
9.1.2.2. By Application
9.1.2.3. By
Country
9.1.2.3.1. China
9.1.2.3.2. Japan
9.1.2.3.3. India
9.1.2.3.4. Australia
9.1.2.3.5. South
Korea
9.1.2.3.6. ASEAN
9.1.2.3.7. Rest of Asia Pacific
10. Middle East & Africa Biodegradable Plastic Market: Estimates &
Forecast Trend Analysis
10.1. Middle
East & Africa Market Assessments & Key Findings
10.1.1. Middle
East & Africa Biodegradable Plastic
Market Introduction
10.1.2. Middle
East & Africa Biodegradable Plastic Market Size Estimates
and Forecast (US$ Million) (2023 to 2033)
10.1.2.1. By Type
10.1.2.2. By Application
10.1.2.3. By
Country
10.1.2.3.1. U.A.E.
10.1.2.3.2. Saudi
Arabia
10.1.2.3.3. Egypt
10.1.2.3.4. South
Africa
10.1.2.3.5. Rest of Middle East & Africa
11. South America Biodegradable Plastic Market: Estimates &
Forecast Trend Analysis
11.1. South
America Market Assessments & Key Findings
11.1.1. South
America Biodegradable Plastic Market Introduction
11.1.2. South
America Biodegradable Plastic Market Size Estimates and Forecast (US$ Million)
(2023 to 2033)
11.1.2.1. By Type
11.1.2.2. By Application
11.1.2.3. By
Country
11.1.2.3.1. Brazil
11.1.2.3.2. Argentina
11.1.2.3.3. Colombia
11.1.2.3.4. Rest of South America
12. Competition Landscape
12.1. Global
Biodegradable Plastic Market Competition Matrix & Benchmarking, by Leading
Players / Innovators / Emerging Players / New Entrants
12.2. Global Biodegradable Plastic Market Concentration & Company Market Shares (%) Analysis, 2022
13. Company Profiles
13.1. Cargill Incorporated
13.1.1. Company
Overview & Key Stats
13.1.2. Financial
Performance & KPIs
13.1.3. Product
Portfolio
13.1.4. Business
Strategy & Recent Developments
* Similar details would be provided for all the
players mentioned below
13.2. PTT MCC Biochem Co.
13.3. Biome Technologies plc
13.4. Plantic Technologies Limited
13.5. BASF SE
13.6. Total Corbion PLA
13.7. Synbra Technology BV
13.8. Futerro
13.9. Novamont SpA
13.10. NatureWorks LLC
13.11. Eastman Chemical Company
13.12. Trineso
13.13. Danimer Scientific
13.14. FKuR Kunststoff GmbH.
13.15. Others**
14. Research Methodology
14.1. External
Transportations / Databases
14.2. Internal
Proprietary Database
14.3. Primary
Research
14.4. Secondary
Research
14.5. Assumptions
14.6. Limitations
14.7. Report FAQs
15. Research Findings & Conclusion
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
}})
Select a license type that suits your business needs
US $3499
Only Three Thousand Four Hundred Ninety Nine US dollar
- 1 User access
- 15% Additional Free Customization
- Free Unlimited post-sale support
- 100% Service Guarantee until achievement of ROI
US $4499
Only Four Thousand Four Hundred Ninety Nine US dollar
- 5 Users access
- 25% Additional Free Customization
- Access Report summaries for Free
- Guaranteed service
- Dedicated Account Manager
- Discount of 20% on next purchase
- Get personalized market brief from Lead Author
- Printing of Report permitted
- Discount of 20% on next purchase
- 100% Service Guarantee until achievement of ROI
US $5499
Only Five Thousand Four Hundred Ninety Nine US dollar
- Unlimited User Access
- 30% Additional Free Customization
- Exclusive Previews to latest or upcoming reports
- Discount of 30% on next purchase
- 100% Service Guarantee until achievement of ROI